tradeBob1

tradeBob1

There is a lot of up and down action. Bears > Bull, IMHO. But it's a tough fight out there. We are at 52 week highs though, so if you believe in reversion to mean, we probably go down the next few weeks. How far, no one knows.

tradeBob1 Updated 

spx short down to 2130.

tradeBob1

spx down until 2119.

tradeBob1

See text in picture.

tradeBob1

I would be looking for short opportunities. Maybe a bear pin bar or harami.

tradeBob1

Long-term trend is still up to sideways. Demand zone is 1800-1900. Supply Zone is 2120-2040. Buys are still buying. Bulls are still winning. Oct-Dec 2015 was a huge bear trap, in terms of volume. Jan-June 2016 was bulls unwinding. We are close to the bears giving up for the rest of the year.

tradeBob1

Descending Channel. Short SPX 2052. Target A 2044 (50%). Target B 2042 (50%).

tradeBob1

Head and Shoulders. Short below 2035. Long above 2080.

tradeBob1 Updated 

SPX failed to hold upward channel. Possible new downward channel. Volume is spiking on Lower Lows. Tracking one short contract SPY. Target 2050. Stop 2084.

tradeBob1

Market is more likely to go down than up. But I don't see any confirmations of down yet. Banks already headed down.